Jennison Associates LLC Purchases 60,307 Shares of Great Lakes Dredge & Dock Co. (NASDAQ:GLDD)

Jennison Associates LLC lifted its position in Great Lakes Dredge & Dock Co. (NASDAQ:GLDDFree Report) by 1.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,359,725 shares of the construction company’s stock after acquiring an additional 60,307 shares during the quarter. Jennison Associates LLC owned 6.53% of Great Lakes Dredge & Dock worth $38,148,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in GLDD. Trexquant Investment LP purchased a new stake in shares of Great Lakes Dredge & Dock during the third quarter valued at $468,000. Wellington Management Group LLP raised its stake in shares of Great Lakes Dredge & Dock by 45.2% during the third quarter. Wellington Management Group LLP now owns 439,986 shares of the construction company’s stock valued at $3,507,000 after acquiring an additional 136,901 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Great Lakes Dredge & Dock by 4.1% in the third quarter. Vanguard Group Inc. now owns 3,283,730 shares of the construction company’s stock valued at $26,171,000 after purchasing an additional 130,571 shares during the period. SG Americas Securities LLC grew its stake in Great Lakes Dredge & Dock by 27.6% in the fourth quarter. SG Americas Securities LLC now owns 36,761 shares of the construction company’s stock worth $282,000 after purchasing an additional 7,949 shares in the last quarter. Finally, Canton Hathaway LLC increased its holdings in Great Lakes Dredge & Dock by 28.9% during the 4th quarter. Canton Hathaway LLC now owns 40,100 shares of the construction company’s stock worth $308,000 after purchasing an additional 9,000 shares during the period. 89.11% of the stock is currently owned by institutional investors.

Great Lakes Dredge & Dock Price Performance

Shares of GLDD opened at $8.24 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.06 and a current ratio of 1.25. The company has a 50 day moving average price of $8.84 and a 200-day moving average price of $8.36. Great Lakes Dredge & Dock Co. has a fifty-two week low of $6.11 and a fifty-two week high of $9.78. The stock has a market capitalization of $552.16 million, a PE ratio of 14.46, a PEG ratio of 0.33 and a beta of 1.14.

Great Lakes Dredge & Dock (NASDAQ:GLDDGet Free Report) last posted its earnings results on Tuesday, May 7th. The construction company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.25. The company had revenue of $198.66 million during the quarter, compared to analyst estimates of $176.45 million. Great Lakes Dredge & Dock had a return on equity of 8.83% and a net margin of 6.05%. Equities analysts predict that Great Lakes Dredge & Dock Co. will post 0.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Great Lakes Dredge & Dock from a “buy” rating to a “hold” rating in a research note on Thursday, June 20th.

View Our Latest Analysis on GLDD

Great Lakes Dredge & Dock Company Profile

(Free Report)

Great Lakes Dredge & Dock Corporation provides dredging services in the United States. The company engages in capital dredging that consists of port expansion projects; coastal restoration and land reclamations; trench digging for pipelines, tunnels, and cables; and other dredging related to the construction of breakwaters, jetties, canals, and other marine structures.

Featured Stories

Want to see what other hedge funds are holding GLDD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Great Lakes Dredge & Dock Co. (NASDAQ:GLDDFree Report).

Institutional Ownership by Quarter for Great Lakes Dredge & Dock (NASDAQ:GLDD)

Receive News & Ratings for Great Lakes Dredge & Dock Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Great Lakes Dredge & Dock and related companies with MarketBeat.com's FREE daily email newsletter.